RaceCafe..#1...Tipsters Thread.... Share Your Fancies For Fun...Lets See Who The Best Tipsters Here Are.
Barry Lichter

TAB to cut 30% of its staff

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And where do the banks stand with ATC?     They must be very toey with no racing and no pokies and no functions.     

 

It's a hell of a situation - if because they got no funds what good is closing them down.     They have to trade to service all the borrowing.    Just like Robertson and covid 19.      Only difference he got us while ATC stranded.

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1 hour ago, tasman man 11 said:

Eljay......you supply the answer.......If clubs are broke then should they be operating.....trading while insolvent.

The clubs I close to OR did a check on are not broke !

But this needs to be sorted .....already the Southland group of Harness clubs have come out and said no drop in stakes  ,meaning they will do all in their powers to keep going and reward the owners and trainers and community that supported them.

I checked 4 x balance sheets from there and all 4 have a little nest egg in bank..for a rainy day they proudly said.....WISE !. They grow hay and cattle for extra funds they get local sponsorship and at least one added its own money to RITA money for stakes last year.

Others are in quite good shape too....Auckland Racing has Investments and Cash of $40mill .......and very good equity.

Cambridge HRC looked OK , even Avondale.....how about a couple of dual code  meets on a Sunday !

 

What clubs are broke ???

The ONE exception I aware of and close to your heart ....ATC....now it could be broke !

Have you seen the plan for it to trade out of the mess it in  ?

Probably not as court cases pending !

But it needs to front up to its members with an honest assessment .

Maybe the Members can suggest or help with solutions ! It now has two NZRB x Board members at helm and the NZRB Finance man !!!!!!!!!Can they turn it around ?????

At the end of the day it could be broke !

Once things settle at the TAB , code funding....more prudent than last few years one would hope......can be decided for each club ,with a bonus element for performance and race minimums for stakes and minimum standards for facilities etc . 

Clubs can then apply for race dates and work on their meetings being a success.

If clubs are broke ,they should shut up shop !

Desperate times call for desperate measures......

Some good ideas, good luck trying to communicate this with the likes of NZTR.

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The press release from no surname Ian cleverly tells us that the redundancy (restructuring) proposal for consultation is for 30% of jobs to be cut - of perhaps more interest is what % reduction in staff cost this represents.

I’ll bet it’s a lot less than 30%,.  No doubt it’s much more of the lower paid and much less of the suits.

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35 minutes ago, Peter R S said:

I’ll bet it’s a lot less than 30%,.  No doubt it’s much more of the lower paid and much less of the suits.

Exactly Peter and this is the problem with the world today!! :angry: Suits on the Gravy Train and the real workers left laying on the tracks !

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5 hours ago, eljay said:

And where do the banks stand with ATC?     They must be very toey with no racing and no pokies and no functions.     

 

It's a hell of a situation - if because they got no funds what good is closing them down.     They have to trade to service all the borrowing.    Just like Robertson and covid 19.      Only difference he got us while ATC stranded.

Firstly eljay.......what clubs are broke    ?????

Sadly firms go broke all the time , and co-vid19 will spit out plenty unfortunately.

Our trotting club will owe the banks plenty......all guesses currently but it will be 10's of millions for sure.

This will mean the banks will own the ATC so its fate may be in their hands...Banks often ruthless.

They could sell what they can to get their money out.

If ATC can hatch a plan to service the debt ,and maybe chip away at the debt they may get a reprieve .

Lucky interest rates so low.....

You must remember the meetings when the idea to future proof the club was presented...many at the top table no longer there but all the members are !

Easy to dream and be generous with other people money !

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eljay and Tasman Man ,

ATC in so much shit,

If they lose that canam court case,

maybe it will be the apartments and the shopping precinct that end up with the Park , 

eventually turned into another shopping centre......

tail wagging the dog

just a thought

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8 hours ago, Huey said:

The problem with the more costs to club approach is , the clubs left wouldn't be the ones they want left , the ones that are presently surviving off the smell of an oily rag are doing so of their own accord and with little or no help from industry bodies.

Every club got help thru HRNZ or NZTR from Rita/NZTR.

In general it covered the basic stakes which depended what type of meeting it was........I looked up several club Annual Reports and note the odd club added 'their own money' to the stakes distributed .

But generally clubs didn't , there obviously room to keep some for raceday expenses. 

One club paid 70 % of payout to Stakes.

I looked CJC July 2018 report and note they received $7.5mill ,but paid $6.8 mill in stakes.They also got $320k from On course tote , $709k Sponsorship and $550k Nom fees.

Raceday expences were some $800 k.

Up to 2019 the NZRB?Rita Annual report showed the breakdown between Stakes and Code expenses paid out.

Gallops about 72% to Stakes. Harness 75%. .Doggies 60%

The smaller clubs seem to grizzle with their lot , compared to the Big Boys who get more for their group races etc and seemingly favoured !

On course turnover is atrocious at some meetings ,while off course seems quite consistent so some smaller meetings do stand up well.

I guess need the facts .

Of course  some tracks are good well used training courses and can justify their existence .....but those that are a burden to code and owners need to be phased out ASAP IMO.

But hard to line up the worth of a track racing 1 t0 3 times a year with those racing 12 to 25 !

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5 minutes ago, Charlie Bukowski said:

eljay and Tasman Man ,

ATC in so much shit,

If they lose that canam court case,

maybe it will be the apartments and the shopping precinct that end up with the Park , 

eventually turned into another shopping centre......

tail wagging the dog

just a thought

Are you a member Charlie ?

Time will tell ,when all the IOU's and who owes who sorted !

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7 hours ago, tasman man 11 said:

Every club got help thru HRNZ or NZTR from Rita/NZTR.

 

On course turnover is atrocious at some meetings ,while off course seems quite consistent so some smaller meetings do stand up well.

I guess need the facts .

Of course  some tracks are good well used training courses and can justify their existence .....but those that are a burden to code and owners need to be phased out ASAP IMO.

But hard to line up the worth of a track racing 1 t0 3 times a year with those racing 12 to 25 !

which clubs are a burden and whats the criteria?

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Here is what in reality will happen.

Many of the tracks where racing is more prevalent , will be in trouble. The industry will turn around once again trying to justify saving them by selling up smaller courses that the industry has little if anything to do with, its got to be just months away.

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40 minutes ago, Huey said:

Here is what in reality will happen.

Many of the tracks where racing is more prevalent , will be in trouble. The industry will turn around once again trying to justify saving them by selling up smaller courses that the industry has little if anything to do with, its got to be just months away.

Most smaller clubs will tell them to F off . You don’t want us our assets will go back to where they came from our local communities . Look where these so called money men have got us . 

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3 hours ago, puha said:

Most smaller clubs will tell them to F off . You don’t want us our assets will go back to where they came from our local communities . Look where these so called money men have got us . 

I;m certain they will, but 2 years ago everyone was saying they couldn't just take your land and then the M report, the racing Act etc. Hopefully I'm well wrong.

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51 minutes ago, Pam Robson said:

Yeah....take Hokitika [ Westland ] as the first cab off the rank.

After that brilliant success with Hokitika, it is a pity this virus came along to upset everything. I really was expecting the demise of Waimate this winter to turn Oamaru and Timaru into the Rosehill and Randwick of the South.

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